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New Zealand Gazette – 2017 – No. 33

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✨ Legal Notices

NEW ZEALAND GAZETTE, No. 33 — 23 MARCH 2017

incurred by the Encumbrancee as a consequence of the Encumbrancer failing to comply with this Encumbrance Instrument.

No delay or failure by the Encumbrancee to enforce performance of any of the covenants set out in this Encumbrance Instrument and no indulgence granted to the Encumbrancer by the Encumbrancee shall prejudice the rights of the Encumbrancee to enforce any of the covenants or provisions of the Encumbrance Instrument.
The Encumbrancee acknowledges that this Encumbrance does not preclude the Encumbrancer from leasing (subject to compliance with any statutory constraints) or mortgaging or allowing security of whatever kind over the Land and consent from the Encumbrancee, except in any regulatory role, shall not be required.
The Encumbrancer:
a. acknowledges that this Encumbrance:
i. has been granted for valuable consideration received, in full compensation for the grant of this Encumbrance Instrument; and
ii. is intended to charge the Land and bind the Encumbrancer (and successors) to perform the Encumbrancer’s obligations for the period of time set out in this Encumbrance Instrument; and
b. therefore covenants with the Encumbrancee:
i. not to seek to discharge, surrender, lapse, vary, amend, withdraw or remove in any manner whatsoever this Encumbrance Instrument prior to the expiry of that period of time, whether by payment of the total security or otherwise;
ii. to preserve for the period of time set out in this Encumbrance Instrument the integrity of the agreements in this Encumbrance Instrument; and

always to act in good faith and do all acts and things and enter into and execute all documents, instruments (including any replacement encumbrance) and/or easement or land covenant whenever reasonably required by the Encumbrancee and otherwise obtain any necessary consents all of which may be reasonably necessary and appropriate to give full force and effect to the intentions and understandings of the Encumbrancer and the Encumbrancee.